The clutch cable is replaced. I tried drilling a bit more, then soaking it with PB Blaster and then shifting it with an ez out but no luck so far. I have the tank just sitting on the pin, the way I bought it for now. I'm going to give it a spritz of PB once a week for a few weeks before I try the ez out again. I'm afraid to get too aggressive with the ez out as the last thing I want to happen is to break the ez out off in the old bolt. Been there, done that, don't wanna do it again! Thanks for everyone's advice.
I assume that the bolt is broken in the hole and not sticking out. If not so there are more options to get it out
If the M6 x 16 is right which it may well be.
I do not believe the full length is needed 16 mm.
typically the same length as diameter of the bolt. ca 6 mm deep.
Think the height of a M6 nut.
depending om material strength. In this case most likely mild steel a little more would be better.
Assume 2 or 3 mm gone then the need to drill is 4 -5 -6 mm.
Starting with a small drill and carefully larger and finish with a screw tap.
If you are lucky the hole is already deep enough with no drilling needed.
Just the screw tap. Perhaps not even that
And as mentioned ..not really a place with forces on the screw.
Some rust dissolving oil into the hole and after some time try to get it out.
But it can be enough with shorter than full length.
A threaded pin can also be put there
and using a nut on the topside